PSA in $500m bonds move

Singaporean terminal operator PSA International has pushed ahead with a $500m bond issue. The 2.5% guaranteed notes are due in 2026 and follow on from a $3.5bn note programme announced in 2009.

DBS Bank and Deutsche Bank have been appointed as joint lead managers and bookrunners for the notes, which will be issued in six days time. Net proceeds will be used to finance PSA International’s capital and operating expenditures and for general corporate purposes, the port company said in a release to the Singapore Exchange.

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.